When will these prices slow down??!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm trying to understand a life situation where child support and day are bills both go away in 2 years. One of you has a toddler and a 16 year old???

Not OP but my husband pays child support for his 16 and 18 year old, and we have an infant and preschooler in daycare.

18 isn't a child

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm trying to understand a life situation where child support and day are bills both go away in 2 years. One of you has a toddler and a 16 year old???

Not OP but my husband pays child support for his 16 and 18 year old, and we have an infant and preschooler in daycare.

18 isn't a child

In MD, until he finishes high school, my husband is obligated to pay child support.

[Anonymous]

Anonymous wrote:I think you might end up screwed, because even as prices are rising, you're not going to have these super low rates forever.

Lower rates are cheaper financing, that's true, as in a $400K loan at 6% is less per month than a $400K loan at 8%. BUT, when the upshift in rates occurs, the PRICES of homes, especially the non-cash market, will decline. This is simple finance math.

Not sure my finance pedantry helps the OP, but the market in metro DC and especially NOVA is driven by the warmongering that's been going on since 9/11. Believe it or not, if Trump were to scale back Middle East warmongering, that might help you see lower prices. HRC seems to be the neocon dream, so her election would keep them rising. Neither of those is a reason to vote for anyone, IMO.

If I were OP, I'd work to enjoy/resign myself to the townhouse. I'd also work on upping my non-home equity savings, probably in shorter (less than 3 years) maturity treasuries. And I'd keep in mind that being a teacher means a much more stable income than most have, even if that income seems smaller!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think you might end up screwed, because even as prices are rising, you're not going to have these super low rates forever.

Lower rates are cheaper financing, that's true, as in a $400K loan at 6% is less per month than a $400K loan at 8%. BUT, when the upshift in rates occurs, the PRICES of homes, especially the non-cash market, will decline. This is simple finance math.

Not sure my finance pedantry helps the OP, but the market in metro DC and especially NOVA is driven by the warmongering that's been going on since 9/11. Believe it or not, if Trump were to scale back Middle East warmongering, that might help you see lower prices. HRC seems to be the neocon dream, so her election would keep them rising. Neither of those is a reason to vote for anyone, IMO.

If I were OP, I'd work to enjoy/resign myself to the townhouse. I'd also work on upping my non-home equity savings, probably in shorter (less than 3 years) maturity treasuries. And I'd keep in mind that being a teacher means a much more stable income than most have, even if that income seems smaller!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:But your equity in the townhome will also increase. You are psyching yourself out.

+1

You're already on the home ownership "ladder." Sounds like your townhome is in the area that you want to live in, so it should be appreciating, too.

This is what I originally thought but the townhouses do not seem to be appreciating at the same rate. The 100k that we'll have in equity is what I believe we'll be able to get in two years. If we're lucky, maybe it'll be 110k.

If you like your neighborhood, and can't afford a SFH, then stay in towhhouse. Save your money for college and retirement or spending it on travel and fun.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm trying to understand a life situation where child support and day are bills both go away in 2 years. One of you has a toddler and a 16 year old???

Not OP but my husband pays child support for his 16 and 18 year old, and we have an infant and preschooler in daycare.

18 isn't a child

In MD, until he finishes high school, my husband is obligated to pay child support.

What about college expenses?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think you might end up screwed, because even as prices are rising, you're not going to have these super low rates forever.

Lower rates are cheaper financing, that's true, as in a $400K loan at 6% is less per month than a $400K loan at 8%. BUT, when the upshift in rates occurs, the PRICES of homes, especially the non-cash market, will decline. This is simple finance math.

Not sure my finance pedantry helps the OP, but the market in metro DC and especially NOVA is driven by the warmongering that's been going on since 9/11. Believe it or not, if Trump were to scale back Middle East warmongering, that might help you see lower prices. HRC seems to be the neocon dream, so her election would keep them rising. Neither of those is a reason to vote for anyone, IMO.

If I were OP, I'd work to enjoy/resign myself to the townhouse. I'd also work on upping my non-home equity savings, probably in shorter (less than 3 years) maturity treasuries. And I'd keep in mind that being a teacher means a much more stable income than most have, even if that income seems smaller!

If interest rates increase and property costs decrease, you will probably have a similar mortgage.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think you might end up screwed, because even as prices are rising, you're not going to have these super low rates forever.

Lower rates are cheaper financing, that's true, as in a $400K loan at 6% is less per month than a $400K loan at 8%. BUT, when the upshift in rates occurs, the PRICES of homes, especially the non-cash market, will decline. This is simple finance math.

Not sure my finance pedantry helps the OP, but the market in metro DC and especially NOVA is driven by the warmongering that's been going on since 9/11. Believe it or not, if Trump were to scale back Middle East warmongering, that might help you see lower prices. HRC seems to be the neocon dream, so her election would keep them rising. Neither of those is a reason to vote for anyone, IMO.

If I were OP, I'd work to enjoy/resign myself to the townhouse. I'd also work on upping my non-home equity savings, probably in shorter (less than 3 years) maturity treasuries. And I'd keep in mind that being a teacher means a much more stable income than most have, even if that income seems smaller!

You're missing the key fact that interest rates increase when prices are increasing. The economy would be roaring at the same time should there be a massive increase in rates. Or simply runaway inflation. I wouldn't count on an increase in rates resulting in a decrease in prices. It hasn't worked that way in the past.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm trying to understand a life situation where child support and day are bills both go away in 2 years. One of you has a toddler and a 16 year old???

Not OP but my husband pays child support for his 16 and 18 year old, and we have an infant and preschooler in daycare.

18 isn't a child

In MD, until he finishes high school, my husband is obligated to pay child support.

What about college expenses?

Student loans are more readily available for college students who have been set loose from parent's child support upon HS graduation. He or she will do fine.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm trying to understand a life situation where child support and day are bills both go away in 2 years. One of you has a toddler and a 16 year old???

Not OP but my husband pays child support for his 16 and 18 year old, and we have an infant and preschooler in daycare.

18 isn't a child

In MD, until he finishes high school, my husband is obligated to pay child support.

What about college expenses?

Student loans are more readily available for college students who have been set loose from parent's child support upon HS graduation. He or she will do fine.

This is pretty cold.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm trying to understand a life situation where child support and day are bills both go away in 2 years. One of you has a toddler and a 16 year old???

Not OP but my husband pays child support for his 16 and 18 year old, and we have an infant and preschooler in daycare.

Yes. This is OP and this is our situation. He has a senior in high school and we have two toddlers.

He sounds creepy-an 18 yo and a toddler? Maybe he shouldn't have had two
families if he couldn't afford them. Are you a lot younger?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm trying to understand a life situation where child support and day are bills both go away in 2 years. One of you has a toddler and a 16 year old???

Not OP but my husband pays child support for his 16 and 18 year old, and we have an infant and preschooler in daycare.

Yes. This is OP and this is our situation. He has a senior in high school and we have two toddlers.

He sounds creepy-an 18 yo and a toddler? Maybe he shouldn't have had two
families if he couldn't afford them. Are you a lot younger?

Ouch! You are quite the charmer aren't you!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm trying to understand a life situation where child support and day are bills both go away in 2 years. One of you has a toddler and a 16 year old???

Not OP but my husband pays child support for his 16 and 18 year old, and we have an infant and preschooler in daycare.

Yes. This is OP and this is our situation. He has a senior in high school and we have two toddlers.

He sounds creepy-an 18 yo and a toddler? Maybe he shouldn't have had two
families if he couldn't afford them. Are you a lot younger?

You're weird. Someone might have had a child very early in life and then had a child a more "normal" age. Why does this even matter?!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm trying to understand a life situation where child support and day are bills both go away in 2 years. One of you has a toddler and a 16 year old???

Not OP but my husband pays child support for his 16 and 18 year old, and we have an infant and preschooler in daycare.

18 isn't a child

In MD, until he finishes high school, my husband is obligated to pay child support.

What about college expenses?

College expenses are not typically required to be paid by any parent. Married parents aren't obligated to pay for college for their children and neither are divorced parents. Parents may CHOOSE to do so but usually not court obligated to do so.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm trying to understand a life situation where child support and day are bills both go away in 2 years. One of you has a toddler and a 16 year old???

Not OP but my husband pays child support for his 16 and 18 year old, and we have an infant and preschooler in daycare.

Yes. This is OP and this is our situation. He has a senior in high school and we have two toddlers.

He sounds creepy-an 18 yo and a toddler? Maybe he shouldn't have had two
families if he couldn't afford them. Are you a lot younger?

You're weird. Someone might have had a child very early in life and then had a child a more "normal" age. Why does this even matter?!

Probably because PP had nothing valuable to contribute and thought it would be funny to make a snide remark on an anonymous forum.

It doesn't matter. Maybe people are in a similar situation.